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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
OECD trimmed its global growth outlook for 2019
The Organisation for Economic Cooperation and Development (OECD) projected a slowdown in the global growth for 2019 to 3.2% from earlier projection of 3.3%, amid mounting global trade tensions. Meanwhile, the OECD raised its 2019 growth forecast for the US economy to 2.8% from earlier forecast of 2.6% and for the UK economy to 1.2% from 0.8%.
UK CBI trends selling prices declined in May
In the UK, CBI trends selling prices fell to a level of -1.00 in May, compared to market expectations of a drop to 0.00. CBI trends selling prices had registered a level of 1.00 in the previous month.
Euro-zone consumer confidence index climbed in May
In the Euro-zone, the flash consumer confidence index advanced to a level of -6.50 in May, compared to market expectations of a rise to a level of -7.70. The consumer confidence index had registered a reading of -7.90 in the previous month.
US existing home sales unexpectedly fell in April
In the US, existing home sales unexpectedly fell to a level of 5.19 million in April, compared to a reading of 5.21 million in the prior month. Market anticipation was for existing home sales to advance to 5.35 million.
Japanese machinery orders rose in March
In Japan, machinery orders registered a rise of 3.80% on a MoM basis in March, compared to a rise of 1.80% in the prior month.
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